In the context of the strong decrease in inflation, the Consumer Confidence Index (CCI) grew in September, after two consecutive months of declines.
The indicator developed by the Center for Research in Finance (CIF) at Torcuato Di Tella University recorded an increase of 2.4% compared to August and reached 41.2 points.
The monthly evolution was accompanied by an improvement in various indicators related to the economic scenario.
Javier Milei and Luis Caputo
In particular, it coincided with the decrease in analysts' concerns about credit delinquency, following refinancing agreements offered by banks and fintechs to debtors, in addition to the stabilization of the exchange rate and the decrease in inflation.
The survey was conducted by Poliarquía Consultores between September 1 and 9, covering a universe of 40 large urban centers. The survey provides insight into households' perceptions of their current economic situation, their expectations for the coming months, and their willingness to make purchases.
In year-on-year terms, the CCI also showed a favorable evolution. The indicator advanced 3.4% compared to September of last year, representing the highest growth rate since July 2025.
The ICC
The interior and Greater Buenos Aires drove the recovery
The improvement in the index was explained by a favorable evolution of the perception of personal situation, especially in the interior of the country and Greater Buenos Aires.
The interior recorded the most significant increase during September, with a rise of 5.23%, bringing its regional index to 46.11 points, the highest level since March. In Greater Buenos Aires, the indicator increased 3.33% and reached 39.55 points.
The evolution also impacted the indicators that reflect households' views on the present and future expectations.
President Javier Milei
The Current Conditions component increased 0.3% compared to August and accumulated a year-on-year improvement of 9.4%, reaching 33.2 points. This sub-index considers both the evaluation that respondents make of their personal situation and their perception of the general state of the economy.
On the other hand, the perception of the future recorded a monthly improvement of 3.8% and reached 49.2 points. Thus, it remained at a level similar to that of a year ago and consolidated as the highest sub-index of the survey.
The recovery of consumer confidence aligns with the growth and disinflation projections put forward by the Government of Javier Milei in Congress through the Budget Project for the upcoming year.
The result for September, thus, marks an increase in the CCI and a particularly visible improvement in the perception that households have of their personal situation and their outlook for the coming months.
